The Monetary Policy Committee (MPC) of the State Bank has decided to maintain the policy rate at 7%. The MPC has given forward guidance, the outlook of interest rate in times to come, this time to boost the confidence of investors. “We are now in a much better position [economically] to give forward guidance,” said State Bank Governor Dr Reza Baqir in a press briefing on Friday. “We are seeing interest at this level in future. And if changes have to be made then it will happen in an orderly manner.” The interest rate stood at a level of 13.25% till early last year before the economy came under immense pressure due to the COVID-19 pandemic. The State Bank brought down poli
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